Paramount Resources Ltd. (TSE:POU) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Paramount Resources Ltd. (TSE:POU) has been given an average recommendation of “Moderate Buy” by the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is C$31.22.

A number of analysts have recently commented on the company. BMO Capital Markets upped their target price on Paramount Resources from C$24.00 to C$32.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 4th. ATB Cormark Capital Markets boosted their price target on Paramount Resources from C$28.00 to C$33.00 and gave the company an “outperform” rating in a report on Wednesday, March 4th. National Bank Financial upped their price objective on Paramount Resources from C$32.00 to C$32.50 and gave the stock a “sector perform” rating in a research report on Wednesday, March 4th. Canadian Imperial Bank of Commerce raised their price objective on shares of Paramount Resources from C$25.50 to C$30.50 in a research note on Wednesday, March 4th. Finally, Jefferies Financial Group cut their target price on shares of Paramount Resources from C$29.00 to C$28.00 in a report on Tuesday, January 20th.

Paramount Resources Stock Performance

TSE POU opened at C$28.31 on Friday. Paramount Resources has a 1 year low of C$14.50 and a 1 year high of C$30.67. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.77 and a quick ratio of 0.68. The company has a market capitalization of C$4.09 billion, a PE ratio of 3.22, a P/E/G ratio of 0.14 and a beta of 0.14. The company has a fifty day moving average of C$27.49 and a 200 day moving average of C$24.85.

Paramount Resources (TSE:POU) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported C($0.03) earnings per share for the quarter. The company had revenue of C$262.50 million for the quarter. Paramount Resources had a return on equity of 48.07% and a net margin of 129.11%. Research analysts forecast that Paramount Resources will post 1.4075758 earnings per share for the current year.

Paramount Resources Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 30th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 2.1%. Paramount Resources’s payout ratio is presently 6.83%.

Insider Buying and Selling at Paramount Resources

In other Paramount Resources news, insider John B. Williams sold 6,800 shares of the company’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of C$30.45, for a total value of C$207,060.00. Following the completion of the transaction, the insider owned 171,285 shares in the company, valued at approximately C$5,215,628.25. This represents a 3.82% decrease in their ownership of the stock. Insiders have sold a total of 18,000 shares of company stock valued at $546,140 in the last three months. Corporate insiders own 45.36% of the company’s stock.

Paramount Resources Company Profile

Paramount is an independent, publicly traded Canadian energy company that explores for and develops both conventional and unconventional petroleum and natural gas, including longer-term strategic exploration and pre-development plays. The Company’s principal properties are located in Alberta and British Columbia. Paramount’s class A common shares are listed on the Toronto Stock Exchange under the symbol “POU”.